coming up, the politics of foreign policy. we have senator john mccain who is going to join us to talk about the u.s. response to the violence in libya. at 8:30 a.m. eastern, breaking economic data. weekly jobless claims and producer pricing numbers for august. wheel bring you the number and the market reaction. fed chairman ben bernanke arriving for the final day of the fomc. the fed expected to release the policy statement at 12:30 today. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. and those well grounded. for what's around this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to re

policy guys write a book about domestic foreign policy. we start of day talking about the world. the last four, five years we would end of day talking about america. it was clear that america is really the biggest foreign policy issue in the world because america we believe provides an enormous amount of global public goods in the world. we make our share of his take but we're a hugely constructive force, managing the trade system or keeping sea lanes in asia open. if we cannot delay plai that role, your kids just wouldn't grow up in a fundamentally different america. this question if we can pass on this dream to another generation, our generation can do that, it has enormous global implications, not just domestic ones. >> it took two months to fix two escalators going up the stairs but -- >> we are optimists. >> but you're frustrated. >> we're frustrated optimists. we think if america stays on the trajectory it's on it's slow optimism. we got the balance right. when we educate our people, second, we have the best infrastructure. in in cen

both party leaders endorse the same foreign policy, endorse the same monetary policy. they really don't care about spending and debt. republicans say we're going to balance the budget in 30 years. i want to cut a trillion dollars and balance is in three years, i want to change the monetary system sew poo politicians can' away with spending and get their debt taken care of by the federal reserve. but the young people know this. they know what's coming on and they're rallying because they're inheriting this mess. they've been sucked into the system, they ended up with tens of thousands of debt, student debt, and they ket get jobs. they know structurally something is wrong. >> do you still believe can you get enough delegates to win the republican nomination? >> theoretically you can. it's not likely. nobody knew santorum was going to drop out last week. only a little over half the votes have been counted. when we come up with texas and california, another third of the vote are yet to be counted. so you don't know. but in theory you can. in practical accounting i think we

that final 90 minute showdown will focus on foreign policy. bob schieffer of cbs will be moderating. you can watch complete coverage right here on cnbc and of course the cnbc twicker will be live. right now let's get you up to speed on this morning's top stories. >> making headlines this morning, spain's prime minister getting backing for his austerity drive. the vote removes a potential obstacle for him asking for a bailout. the timing of any spanish bailout is still uncertain, of course, and we'll have more from ross westgate in just a few minutes. japan's exports tumbling by 10.3% in the year. sharpest decline since the aftermath of last year's earthquake. meantime bank of japan is cutting it outlook for local regional economies due to a fight with china and weak global demand. and bp says it has not yet reached that agreement on the sale of its 50% stake in tnk. bp and rosneff reportedly preparing to announce a deal worth more than $25 billion. could give the british oil company a stake of between 16% and 20%. we've been waiting for that t

you get a sense of foreign policy that's adrift? >> where do you put the killing of osama bin laden in this context? >> i give him great credit for that. great credit for that. unfortunately, i don't give him as much credit as he takes for himself. what he did in leaking the information is dangerous, disgusting, probably the reason you see a book like this is this -- you go after this guy who wrote this book, the s.e.a.l., he just says i'm just doing what boss is doing. the boss gives it away to hollywood. boss gives it away from hollywood. the information didn't come from the administration. administrations sources are quoted. come on. >> i read that too. our guest host today is kevin warsh. you have a few thoughts about how maybe we have weakened our policy by some of the things we've done economically too. >> i'm scarcely an expert on foreign policy, national security, but i have heard admiral mullen and stan mcchrystal say that our most pressing foreign policy issue is the economy. i wonder if the mayor agrees with that. if we d

and then he was on record, he wanted to split the country into three -- he's got some foreign policy stuff that looks -- i was wondering in the poll and you didn't mention real clear, romney was up suddenly and real clear on the composite of all the that is al polls and it's widened to 1.5%. and some of the other ohio polls, it's closer than that one. in any of these polls, are you seeing an improvement because of the front page of the journal that it's one month since benghazi at this point. i wonder if you're seeing the foreign policy advantage that the president had, whether that has narrowed. do we ask that question in any of our polls? >> i don't think benghazi was on the poll. i'll go back and look because i didn't focus on that, i was looking more at the top line. but, yes, i think that has. but i think the biggest thing that's happened has been the debate last week lifted mitt romney's favorable ratings among a lot of people. and so what you had was a lot of either soft p republicans or independent leaning republicans who for one reason or the other had decided that mitt romn

you can't keep the same foreign policy and the entitlement system is totally out of control, it's on autopilot, and nobody else has proposed a cut. the other candidates say, yeah, cut on the proposed increases i've proposed a $1 trillion cut, so i'm serious about it, i believe the problem is very bad, and evidently nobody else considers it because nobody else really wants to cut anything. >> after one of the recent debates rick santorum seemed upset, he seemed to think that you and mitt romney had teamed up somehow and were tag teaming him in the course of the debate. was there any truth to that conspiracy theory? >> no. some people are more into conspiracies than i am. i think he's more involved in conspiracies. no. it's just because we're cordial with each other. we've known each other and we talk about family. he has five kids. we have five kids. so, i don't know whether it's a crime to -- >> ron, will you back the eventual republican nominee wholeheartedly whoever it is? >> wholeheartedly, i would have to reassess that, because -- because, you know, they're still talking about --

and focusing on issues of foreign policy and national security, we have senator john mccain. and by the way, if you went to sleep early last night, the texans beat the jets 23-17. this win brings the texans perfect record this season to 5-0. we will have more in squawk sports. first andrew has the morning's other top stories. >>> mr. sanchez had a chance to win that close to the end there and he didn't. the imf, though, this morning warning that the global economy has weakened further and now predicts slower growth for the next year. the advanced economies like the u.s., imf saying growth now too slow to make a serious dent in unemployment. meantime the imf predicting growth will begin to slow down in emerging economies such as china. the global forecast now at 3.3% for this year. by the way, that is down from the july estimate of 3.5%. >> you can call it general feeling of uncertainty about the future. worries about the ability of european policymakers who controlle euro crisis, worries about the failure of u.s. policymakers to agree on a fiscal plan. >> as for greece, the i

and now we've got suddenly the middle east and foreign policy, that used to be something that the left thought they could count on being a strong point and i'm wondering whether there's some question now whether that becomes a liability. >> joe, the real unemployment number is over 17%. when you add back the tremendous numbers of people that gave up looking for jobs and all of the other things they do to manipulate them, you're not talking about 8.2%. you're you can taking about the real number being over 17%. and i don't think there's even a little bit of a question. if you look at what's happening, apple, we all talk about apple and we watch the stock go up, although yesterday it finally had a bad day after about 400 years. but you watch this whole situation with apple, china is the -- they're the ones that make the product. we don't make any apple product. and they talk about how it benefits us. but china makes the product. china is the beneficiary of apple. we're not so much of a beneficiary. so we have to get the jobs back in this country. we have to take those jobs away, incentiv

we're following people all around on foreign policy. and we're following markets that are dragging us in the right direction but we're not showing any leadership. you had a half hour presentation from treasury department a little while ago trying to rewrite history. fannie mae and freddie mac, which was the heart and soul of the problem, the democrats haven't led at all in trying to fix that. >> governor, how do you articulate -- >> look. >> on the in spite of issue and joe and i faked, how do you articulate that message at a time when the markets and the economy do feel like they are getting better and how are you going to get that ultimately to resonate? >> look, you know, we're bragging about 8.3%, the administration bag about 8.3% unemployment. the public understands 8.3% is lousy. and had 8.3% through an entire administration or higher through an entire administration. the public when they start to discussion on what's happened over the last three or four years will understand it. bill talked about gas prices. when you remind them

. >> good foreign policy means no bad stuff happens in that part of the world. utterly conditioned on more than any other foreign policy issue that bad stuff happens to america. whatever your foreign policy is to reagan, to bush, to clinton. >> if you're holding -- you killed osama bin laden, holding yourself as a drone guy and tough of an all of these things. on the anniversary of 9/11 and you don't have your diplomats protected in these volatile places, and it's clear that it was a volatile place. >> well -- >> that's why it's an issue. that's why it's an issue. >> well, but the issue they're trying to make -- >> we hear about it on monday night. >> i guess, but again, does anybody think obama doesn't want to protect his ambassadors? >> no one thinks the president doesn't want to create jobs and help the middle class, but we know that hasn't been the case. >> we know that he failed. that's a lock. >> right. and they're going to point that out too. >> did you hear larry summers, talking about taxes and the impact on business. and he made this point that actuall

he shifts his focus to foreign policy this week with a major speech and overseas trip to three different countries. today he addresses a veterans of foreign wars conference and he'll visit the uk, israel and poland. all is parts of a trip to the beginning of the olympics, which begins at the end of this week. >> did you see the "usa today" poll that's out that says romney is trusted more on the economy when they actually went through and put some of these questions that had gone into it. something like with his business background 63% think he will make good decisions on the dme based on his business background. 29% think he'll make bad decisions which raises the question whether all these attacks about bain and his business background are really the right strategy for coming at it. >> what do you do? what is the right strategy? >> i've always questioned that. the idea of attacking a business background as being a bad thing. >> i thought it was the right thing. >> to attack? >> no. we talked about it before. he should embrace being a private equity guy. i'm a mr. fix it guy and this comp

he's pro-growth, pro economic growth, centrist foreign policy. i think you're foreign policy is good. >> when you look at politics, it does seem that both parties have wings that have broken off in different directions. you have the streextreme left a right and their voices have gotten louder. >> i'm a centrist democrat. i'd like to see the party probably move a little more to the center. but i think if there's not some real action after the election, you're going to see the emergence of a strong independent party. i'm not if for that. but i think the voters are sending the message they want things worked out. >> but in terms of the fiscal cliff, what are we talking about? >> there not be panic right after the election when they deal with the debt agreement, the defense spending not be cut dramatically, that we deal with the bowles-simpson, the debt issue. i think you'll see some kind of compromise right after the election from both parties. i'm a minority opinion here. but i think the american people have a strange way of saying enough of this a

first he waded in to foreign policy signing a bill that takes aim at companies side to syria and cuba. and florida ranked as the second best state for business. rick scott will join us flex. introducing gold choice. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz. and then treats day after day... well, shoot, that's like checking on your burgers after they're burnt! [ male announcer ] treat your frequent heartburn by blocking the acid with prilosec otc. and don't get heartburn in the first place! [ male announcer ] one pill a day. 24 hours. zero heartburn.  [ barking ] appears buster's been busy. yeah, scott. i was just about to use... that's a bunch of ground-up paper, lad! scotts ez seed absorbs and holds water better. it's guaranteed to grow grass anywhere, even if you miss a day of watering. [ scott ] seed your lawn. seed it! >>> florida's job growth picking up steam. the state as heseen the largest m

bush, son of former florida governor jeb bush and jared bernstein, foreign economic policy adviser to vice president biden and senior fellow at the center on budget and policy priorities and wilbur ross is joining in with us, too, he's sticking around because we begged him too. we'll have more from all of them in a moment. first andrew has your morning headlines. >> we've got some earnings news this morning, dow component walmart reporting third quarter profit of $1.08 per share, one cent above estimates. revenues were light and full year forecast falling below street consensus. walmart saying an internal investigation has unveiled allegations of foreign corruption practices act in three more countries, so we're going to add china, india and brazil to the list, the issue first surfaced regarding walmart's mexico operation and there was an sec -- >> i had said before the company said in the release it's been informed by the doj and sec it's been the subject of investigation into possible violations of the foreign corrupt policies act, but it's the brazil, china and india aspects that c

on the other hand to watch what happened with his foreign policy visor bothered me. i mean, to walk away from somebody that quickly because of the pressure you were getting because of the man's lifestyle, who happens to be a very well recognized international expert. i'm looking for the core. >> his choice for vice president, is that a huge deciding factor for you? is there someone who would make you feel very good about that ticket? >> there a number of people who could make me feel good about temperature. that's why i want to stee where we go. >> and governor christie -- >> i'd like him to stay in new jersey. i think heeding good. >> you're in new york for chinese takeout. is that it? >> andrew's never going to leave manhattan. >> no, he's not. >> he knows my wife. up know my wife, too. >> you don't have a back yard. >> central park. >> go out there and midnight. >> andrew will use all the money cnbc is buying him to buy a weekend home. >> then you'll be the 1%er you actually are. >> coming up, we'll head to the new york stock exchange right after this. >>> ready p

the war hawks didn't want revenue, they wanted an aggressive foreign policy and no revenue. not a good way to do things. >> the point being revenue would solve our problems. >> you absolutely need growth. it's an economy that has a dynamism about it but you need revenue to come off that growth. if you can hook those two things up, you'll be fine. >> thanks for being here. we didn't get to talk about debt. hopefully we can have you back. >> you live in cambridge? >> i live in washington, d.c. >> coming up, the world's best golfers getting ready for the start of the masters. one year ago we awarded our own green jackets to the best minds in business today. and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risk

policy but then some of the things he's saying are in direct opposition to what the u.s. policy is at this point. that's a pretty tricky line. >> it is. there's this sort of quaint custom that was once observed and talked about, you know, politics stops at the water's edge and when you're on foreign soil you don't criticize the president. it's kind of silly because both of these campaigns in permanent warfare mode. each party violates that election after election. romney is cueing to the form of the past which says i'm not going to outline any differences but you may notice he gave an interview in nevada to an israeli newspaper before he left, and in that interview he spelled out some of his differences. >> i guess it's a little different today where everybody has the internet access. >> distinction is kind of lost. >> john, thank you very much. great talking to you. we'll see you again this week several times. >> coming up, we have veteran money manager bob doll. and a story becky and i were talking about all morning. first it was sugary sized drinks. hear what new york

with condoleezza rice, she's somebody who can lend some foreign policy credentials to mitt romney and talk about how he would approach that. she also represents some defensety on this stage of the party, which is an overwhelming white party. and the fact she's a woman may again -- a lot of the key swing votes are suburban women outside of places like denver, raleigh, durham, philadelphia, those are the people mitt romney needs to connect with. and condoleezza rice may be able to help him. >> i don't know about derek you know, we talk about social media and the blogosphere, but in the past you say people talk about the nondiverse audience. main stream media are talking about placement of where they put someone -- a person -- a person of color even, american samoa or whatever. and then people are tweeting when they see a person of color. it's almost they make a joke out of it. finally i saw michelle malkin say republicans will do that at the dnc. and when they spot a taxpayer, they're going to tweet about it. >> reporter: i guess they will. look, the reality in the country is that our p

policy, and other items. after the meeting, ronald reagan turned to him and said, for the next 100 days of my presidency, that will be the last meeting we have on that. all we're going to focus on is the recovery and this economy. that's clearly what this president did not do. >> julian, there are people like roger altman they think no matter who is elected we'll be looking at a better economy in the next four years. you sound like you're more in that camp but i don't want to put words in your mouth. >> well, i think mitt romney is uniquely qualified to lead us through that, and i think president obama will do a better job than he's done so far, but he really hasn't had the training, i mean, and he has never been successful in getting really much accomplished, and i really believe mitt romney would be much better on that i think he's the man for this job right now, and i believe he's going to get it. >> i guess in terms of getting things accomplished for the obama campaign has pointed to things like health ca

policy, all nicely packaged. and now we're into the war on terror and we're ten years into that and we're wondering what comes next. >> come november, given all the negativity, how much do you think that impacts romney, assuming he is the nominee, and what you argue is the lack of optimism or lack of vision being articulated? >> the negativity hurts. vision helps. but i think there's a mathematical equation that will likely spell the winner at the end of the day, and it reads something like unemployment and gas prices. i think you can input a couple of those numbers and likely look at historic trends and find where the numbers are, you're going to find your next president. >> you saw the poll probably. it was earlier this week that talked mostly to republicans about do you think that this has been a huge negative, this nominating process. and surprisingly, a pretty large majority said this -- we're not concerned about this. we're not unhappy with the way the selection has been, and when we finally get a nominee,

i'm like at the foreign policy debate where romney was, right? nice work on that one, particularly the rope a dope. that was brilliant. >> when we come back, we'll talk about stock plays to beat the fiscal cliff and plus a live report from the middle east and what rising tensions there mean for the global markets. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. [ male announcer ] good choice business pro. good choice. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares fo

foreign policy i think he's handling it extremely well but mainly the economic numbers seem to be going our way, his way and i think romney will be a tough challenge. he is not somebody that can be diminished, and all of this, you know, i was in those primaries, all of this talk about how primaries divide you and people get mad, people for gget at the end and they come both in their best interests. >> we could continue this conversation, so much to talk about. we have to have you back but thank you for being with us. appreciate it. >>> coming up we'll dig but the coca-cola earnings report with an analyst and bottom line numbers ahead. and pimco's mohammed el-erian will join us 8:30 a.m. eastern time. "squawk box" will be right back. this is an rc robotic claw. my high school science teacher made me what i am today. our science teacher helped us build it. ♪ now i'm a geologist at chevron, and i get to help science teachers. it has four servo motors and a wireless microcontroller. over the last three years we've put nearly 100 million dollars into american education. that's thousands of

policy, who are fiscally conservative but want the government to be limited and really think that the debt's a problem, those have been the things that i have talked about. and i think that will attract some moderates and independents also to the ticket. >> when -- and i see it where what you just said, people are -- romney was interviewed by cnn, said about ohio, polls go up and polls go down, but when november 6th comes people are going to recognize we don't want a government that just keeps getting larger and larger and we want more, you know, business and the private sector to do better. and when he picked ryan, i thought, all right, it's a clear choice now, the country has a clear choice which way they want to go. but something got lost in the last -- you can just look at the polls where that didn't -- people are not looking at that at this point. they must be looking at something else because we do see president obama leading in most polls. what changed? what's different? >> well, it doesn't help when all the networks run a secret tape about 10,000 times in one week, and i think

he's not made any progress on his foreign policy views but events in the world have sort of pulls both parties a little closer to ron paul in that there is war fee teek among the american public and the candidates. >> all right. john, thank you very much. we know it was a long night. >> have fun with mitt romney in a come hours. >> we will. in fact, if you didn't know, mitt romney will be joining us live at 8:45. >>> it's time for the global report. our good friend becky meehan is standing by in london. how are you? >> good morning we had a selloff yesterday. as you can see, we're coming back from the do carolinas. 3 ppt 6, 3.4% lower. these moves today should be put into that context. we're up. not by quite 4%. pales in significance. remember we are still in this part of the world seeing the selloff yesterday in the context of a very strong start to 2012. we're doing bait better actually earlier in jaerm but then we got some manufacturing data out for january. this is really the manufacturing hub. it's disappointing. taking the shine off. the cac up by 7%. let's look around at some of

they talked about foreign policy and what their taxes were goal going to look like. frankly i walked away from both of the interviews and knewing in new i knew before the interviews. >> i felt like i learned a couple of things from governor romney. kelly a kellyanne? >> i did. he was specific about his tax vision because he was asked specific questions. jimmy, love you pal but most people don't look at the respected tax policies of obama and romney and say blah, blah, blah. they say blah, blah, blah when he says change the tone in washington. he said two different things in the span of three days that univision he thinks the greatest, biggest disappoint, not biggest failure, the biggest disappointment is the lack of immigration policy. he goes to what he thinks is a different audience, and last night said he was unable to change the tone in washington. it's not about pointing the finger outward at congress or we the voters. it's about the captain of the ship taking responsibility for the fact that it's listing and people are still drowning. unemployment rate, the fai

massive pattern of the unraveling of the administration's foreign policy. i'm not sure you can connect the dots in that way. and convince the american people that there was some pattern of negligence. people know that that's a very dangerous part of the world. as a country we've lived through a whole lot of loss of life and casualties of various kinds. so i'm not sure how much of a game changer that ultimately is. >> you switched it from take to bear. he hasn't taken responsibility, but he bears responsibility. >> yeah. >> but you changed it as a good journalists you are. >> because she took last night. >> she's in peru, right? she basically said no one else will take it, so, okay, i'll take it. the way that it -- >> it was purposeful. >> you saw the editorial in the journal today? >> did not. >> there's an -- >> i was watching the giants. >> they stuck susan rice in there and it's entitled hillary's responsibility. >> that's just it, this was an orchestrated -- >> we know that now. >> a series of interviews they set out to make sure that they made this poi

. >> foreign policy still a wild card, too. and even some polls on the economy, romney seems for be doing better on those. two points on the gwu poll today, right? and we'll get rasmussen -- >> i didn't see gw. i saw a "washington post" abc poll showed two points among likely voters nationally. >> in was two on gwu, too. politico was two points. rasmussen and gallup at 5 and rasmussen at 2. >> polls it show obama up 11 in swing states. that sounds high to me. but in any case, obama's ahead, romney has to change something. he has a chance to do it. >> all right, john harwood, thank you. >> today is the start of the fourth quarter. and joining us is teach stanley, chief economist for peerpont securities. the lead story is how trade is slowing around the world. all of europe's problems getting exported to the rest of the world. what do you think this means just in terms of the fourth quarter and maybe a look into next year? >> good morning, becky. well, i think right now the u.s. economy is really slow in part because of what you

to get its house in order, not only from a domestic economic policy standpoint, but from a foreign affairs standpoint. >> they say it would be better to go over it than kick the can. now they say with have to do infrastructure, investment, but their main thesis was we got to do these pro-growth tax reforms, take these steps to do these things. >> i'm not sure they're bringing rates down -- >> they're talking about tax reforms. >> big tax reform. >> don't just -- >> we need big tax reform. >>> coming up, rining up holiday. dana telsey in the only time you'll see her on tv this christmas season, probably not true. she spent all weekend canvassing stores. she'll bring us her take on the americans consumer. but first the average age of this band is older than the supreme court. the rolling stones mashing their 50th anniversary with a concert this london last night. the band performed in front of an audience of 20,000 fans. hits including i want to be your m man. the stones will play one more gig in london on thursday before heading to the u.s. to play brooklyn and newark next month. i always w

. >> tonight, they will not go into the foreign policy stuff. the one part where obama is weak is this flip-flopping, if you will, on the libya stuff. that's the weakness, the nugget, if you will, the window opening. they won't go into that tonight, or they shouldn't go into it. >> thank you, guys, for the pregame. appreciate it. quick programming note. cnbc's coverage of the first presidential debate begins tonight at 7:00 p.m. eastern time. >> if you've got your reaction shots ready? we have a different director today. >> yeah. >> god forbid -- let me just try. surprised. >> just be ready. because it's coming. >> i need to know. it's a long morning. >> he's thrown in with us trying to follow our conversation around the table. but be careful. >> almost got me. i was doing that. >> oh, you were? >> yeah. >> i'm listening to you intently. >> thank you. i appreciate it. >> don't take me when i'm listening to andrew seriously. anyway. did you get that? i figure when i do the great things -- >> this is a youtube moment. it will go viral. >> you've g

as far as foreign policy views are frightening but he's got a lot to say about the gold standard and the return to king dollar and sound money which people like me and many others really appreciate. he also, you know the 76-year-old also tapped into the votes. >> let's say romney is at 85%, 90% or whatever. let's just for argument's sake say he becomes the eventual nominee. have you, the -- i mean you're great, if he wanted you on board with him against obama, can you come back and do that at this point? can gingrich come back and do that at this point? >> those are two separate questions. newt said today on a different network that he, of course, will support the republican nominee and do what he can do to beat barack obama. >> not you? >> no especially me. i'm an expert on the women's vote. aboutment. got 56% of the women's vote in 2008. i can't overexaggerate how high that is for a non-incumbent. bill clinton 4% in his first election in 1992. 5 ha 54% in incumbent. my first job in polling, my first boss in polling coined the term the gender gap as an incumbent. women as a republic

the reason you've seen reserve requirements decreasing in china isn't monetary policy. it's because that's the tool they used to stop foreign exchange reserves from speculators and money is not coming in right now. this report is consistent -- last night's report is consistent with a 8.5% gdp growth throughout the year. it's a gradual change. there is a structural change under way as peter talks about. they're trying to get more consumer spending. obviously there's less exports, especially with europe being soft. fixed asset investment is cool being somewhat. there's a housing boom that's come off and is declining prices. all in all, this is probably the lowest quarter of the year. usual probably looking to 8 to 8.5 is the zone i would expect snp. >> why is that? is china going to be making some easier liquidity motions? >> well, you know, the old saw is trees don't go to the sky. china's to the going to draw to ten%. chinese growth to slow to this year 8.5 or so. the big story in china is the export of capital. they're changing the rules to allow chinese companies to i

sign this morning the foreign minister not involved very much in this policy-making said he thought it would be possible to give greece more time and he was contradicted by the chancellor and the finance minister. germany feels that they have to maintain a stable foundation and they will make compromises only after they get their preconditions for compromises achieved. >> what do you tell the greek voters at that point if they say we're willing to work with you but we need more time? we voted in the party who we thought was willing to work with you. the other party that almost won and came very close would have said forget it to all of you. we're out of the euro. would germany say that's just as well, go away? >> no, i don't think so, but don't forget there's not a government yet. what happened was that one party got the party that everybody wanted got the most amount of votes and they have to put together a government and the government has to say what their approach is going to be. also don't forget there's a g-20 meeting starting i think today in mexico which will say a lot of thing

. >> 40% of the big venture capital backed tech startups have a foreign founder or co-founder, and current immigration policies discriminate against that, where educating engineers a s and scientists and deporting them and reimporting the products they make makes no sense. i didn't see in your book where you were pushing for a change in that. >> i couldn't agree with you more. my father was an immigrant to this country as an engineer, came to the university of michigan and a lot of silicon valley saw asians come and be founders and i think having high skilled immigrants come to this country to, who can create jobs is absolutely a good policy that people should come around. >> what should be the role of government as someone who has worked in washington, what do you think washington should be doing right now? >> we should get back to our founding principles. paul ryan, i know you were talking about him in the show, he said let's reapply the founder a's principles. my question is what about alexander hamilton? you don't have to read the world is flat. read hamilton's report on manufacturing,

but over here in europe, i think most people, certainly from a foreign policy stance would probably prefer the obama presidency to remain. and that's noticeable when you take a look at brent and nymex have also come down a little bit today. initial reakts reactions here, can deal with that. >> hey ross, the general assumption is from just about everybody here, if we go over the fiscal cliff, would mean it's going to put the united states back in a recession. is there same sort of consensus that if we go over the fiscal cliff and the u.s. goes back into the recession, does that translate into really bad news for europe as well? >> it ain't good news. if you look at the pmis that we had out again yesterday, the final pmis, they were weaker from the flash in both germany and france. we've seen real we canneakness those countries. if you see the u.s. back in recession, they're already suffering from very poor weak demand in eurozone. that will obviously have a negative impact on that. here's one house, lombard research. they said this before the election. they were reckoning whoever won the pr